REG - ITM Power PLC - Award of Options

ITM PowerAnnouncement

29/10/2019 12:00

RNS Number : 5016R
ITM Power PLC
29 October 2019
 


29 October 2019
 
ITM Power plc
("ITM Power" or "the Company")
 
Award of Options
 
ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that on 24 October 2019, the Remuneration Committee of the Company approved the awards of options over ordinary shares of par value £0.05 each in the capital of the Company to the Executive Directors as follows:
 



Executive director


Number of options granted


Existing Options


Total Options




Graham Cooley


307,500


6,000,000


6,307,500




Simon Bourne


159,750


 2,700,000


2,859,750




Rachel Smith


72,000


1,350,000


1,422,000




Andy Allen


47,250


1,050,000


1,097,250



 
All options are being issued with an exercise price of 48p, being the mid closing price on the day of the award which was made after trading hours. Options vest on the third anniversary of the grant award and have a ten year expiry from the date when the options were granted.
 
The Executive Directors currently have the following interests in ordinary shares in addition to the options set out above:
 



Executive director


Position


Number of Shares


% of issued share capital




Graham Cooley


CEO


1,137,726


0.24%




Simon Bourne


CTO


349,462


0.07%




Rachel Smith


Executive Director


80,886


0.02%




Andy Allen


Finance Director


25,000


0.01%



 
For further information, please visit www.itm-power.com or contact:
 



ITM Power plc


(0)114 244 5111




Nicola Ham Edmonds, Company Secretary


















Investec Bank plc (Nominated Adviser and Broker)


(0)20 7597 5970




Jeremy Ellis / Chris Sim


















Tavistock (Financial PR and IR)


(0)20 7920 3150




Simon Hudson / Barney Hayward







 




 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Graham Cooley




2


Reason for the notification




a)


Position/status


Chief Executive Officer




b)


Initial notification /Amendment


Initial Notification




3
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


ITM Power plc




b)


LEI


21380042MB2JKZ6RRP12




4
 


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




a)
 


Description of the financial instrument, type of instrument


Options over ordinary shares of 5p each




 


 




Identification code


ISIN: GB00B0130H42




 


 




b)


Nature of the transaction


Issue of Options




c)
 


Price(s) and volume(s)


 


 




 


Price(s)


Volume(s)




 


Nil cost option


307,500




d)
 


Aggregated information


 




 


 




- Aggregated volume


307,500




 


 




- Price


NA




 


 




e)


Date of the transaction


24 October 2019




f)


Place of the transaction


Outside a trading venue



 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Simon Bourne




2


Reason for the notification




a)


Position/status


Chief Technical Officer




b)


Initial notification /Amendment


Initial Notification




3
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


ITM Power plc




b)


LEI


21380042MB2JKZ6RRP12




4
 


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




a)
 


Description of the financial instrument, type of instrument


Options over ordinary shares of 5p each




 


 




Identification code


ISIN: GB00B0130H42




 


 




b)


Nature of the transaction


Issue of Options




c)
 


Price(s) and volume(s)


 


 




 


Price(s)


Volume(s)




 


Nil cost option


159,750




d)
 


Aggregated information


 




 


 




- Aggregated volume


159,750




 


 




- Price


NA




 


 




e)


Date of the transaction


24 October 2019




f)


Place of the transaction


Outside a trading venue



 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Rachel Smith




2


Reason for the notification




a)


Position/status


Executive Director




b)


Initial notification /Amendment


Initial Notification




3
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


ITM Power plc




b)


LEI


21380042MB2JKZ6RRP12




4
 


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




a)
 


Description of the financial instrument, type of instrument


Options over ordinary shares of 5p each




 


 




Identification code


ISIN: GB00B0130H42




 


 




b)


Nature of the transaction


Issue of Options




c)
 


Price(s) and volume(s)


 


 




 


Price(s)


Volume(s)




 


Nil cost option


72,000




d)
 


Aggregated information


 




 


 




- Aggregated volume


72,000




 


 




- Price


NA




 


 




e)


Date of the transaction


24 October 2019




f)


Place of the transaction


Outside a trading venue



 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Andy Allen




2


Reason for the notification




a)


Position/status


Chief Financial Officer




b)


Initial notification /Amendment


Initial Notification




3
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


ITM Power plc




b)


LEI


21380042MB2JKZ6RRP12




4
 


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




a)
 


Description of the financial instrument, type of instrument


Options over ordinary shares of 5p each




 


 




Identification code


ISIN: GB00B0130H42




 


 




b)


Nature of the transaction


Issue of Options




c)
 


Price(s) and volume(s)


 


 




 


Price(s)


Volume(s)




 


Nil cost option


47,250




d)
 


Aggregated information


 




 


 




- Aggregated volume


47,250




 


 




- Price


NA




 


 




e)


Date of the transaction


24 October 2019




f)


Place of the transaction


Outside a trading venue



 
About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of green hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering green hydrogen to large scale industrial projects worldwide.  ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell's Rhineland refinery. ITM Power announced the lease of the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.
 
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